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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Financial Statement Line Items in Which Stock-based Compensation is Reflected

The following table provides stock-based compensation by the financial statement line item in which it is reflected:

	Fiscal Year
	2018				2017				2016
	(in thousands)
Cost of revenue	$	6,285			$	6,509			$	6,508
Selling, general and administrative	41,061				37,494				37,134
Stock-based compensation, before income taxes	47,346				44,003				43,642
Provision for income taxes	(9,188		)		(13,428		)		(15,548		)
Stock-based compensation, net of income taxes	$	38,158			$	30,575			$	28,094

Summary of Stock Option Activity

The following table summarizes stock option activity under the Company’s stock-based compensation plans:

	Number of shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(in thousands)							(in years)		(in thousands)
Options outstanding as of December 30, 2017	1,774			$	73.19
Options granted	508			$	109.32
Options exercised	(576	)		$	65.40
Options canceled	(150	)		$	88.17
Options outstanding as of December 29, 2018	1,556			$	86.44			2.9		$	39,300
Options exercisable as of December 29, 2018	379			$	66.91			1.8		$	16,991
Options expected to vest as of December 29, 2018	1,175			$	92.74			3.2		$	22,309

Weighted-average Assumptions

The fair value of stock options granted was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Fiscal Year
	2018			2017			2016
Expected life (in years)	3.7			3.6			3.6
Expected volatility	25	%		24	%		25	%
Risk-free interest rate	2.4	%		1.6	%		1.2	%
Expected dividend yield	0	%		0	%		0	%

Summary of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes the restricted stock and restricted stock units activity for fiscal year 2018:

	Restricted Stock and Restricted Stock Units			Weighted Average Grant Date Fair Value
	(in thousands)
December 30, 2017	514			$	80.45
Granted	221			$	109.15
Vested	(201	)		$	76.84
Canceled	(44	)		$	92.78
December 29, 2018	490			$	93.80

Information about PSUs and Related Weighted-Average Assumptions

The Company utilizes a Monte Carlo simulation valuation model to value these awards. Information pertaining to the Company’s PSUs and the related estimated weighted-average assumptions used to calculate their fair value were as follows:

	Fiscal Year
	2018				2017				2016
PSUs granted	200,333				197,645				190,628
Weighted average grant date fair value	$	117.89			$	99.96			$	80.38
Key Assumptions:
Expected volatility	26		%		26		%		24		%
Risk-free interest rate	2.4		%		1.3		%		0.9		%
Expected dividend yield	0		%		0		%		0		%
20 trading day average stock price on grant date	2.9		%		17.7		%		(4.8		)%

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